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India Wires and Cables Market Size, Share, Trends, Forecast: By Voltage: Low Voltage, Medium Voltage, High Voltage; By Product: Power Cables, Building Wires, Flexible Wires and Cables, EHV Cables, Control/Instrumentation Cables, Others; By Material: Copper, Aluminium, Others; By End Use; Regional Analysis; Competitive Landscape; 2024-2032
India Wires and Cables Market Outlook
The India wires and cables market size reached a value of nearly INR 1,083.71 billion in 2023. The market is projected to grow at a CAGR of 14.5% between 2024 and 2032 to reach around INR 3,655.81 billion by 2032.
Key Takeaways
- The demand for wires and cables in India is expected to ramp up with the expansion of renewable power generation, the upgrading of transmission and distribution infrastructure, rising investments in metro railways and smart grid initiatives, and the growing data center sector.
- Polycab India Limited, KEI Industries Limited, Havells India Limited are a few of the major companies in the market.
- The anticipated increase in urbanisation and commercialisation is assessed to stimulate investments in the real estate sector, leading to a higher demand for low-voltage insulated wires and cables.
A wire is a metallic conductor, mainly made of copper, that is used for conducting electricity whereas a cable is a group of wires that are bonded and twisted together for the transmission of electrical or optical signals.
Globally, India is the third-largest producer and consumer of electricity. As of April 30, 2023, India had an installed power capacity of 416.59 GW. There is a growing number of investments in the power, telecommunication, and infrastructure sectors, including metros, railroads, smart grids, and data centres.
Some of the investments include Raipur Visakhapatnam Expressway (NH-130CD) with a funding of Rs 20,000 crore, Kala Amb smart grid project with an investment of Rs.19.44 crore, and USD 32.7 billion capital investment into the rail among several others.
Some of the factors driving the India cables and wires market growth are ongoing technological advancements and innovations by branded players. India aims to achieve 500 GW of renewable energy by 2030 and the Indian government is significantly investing in metro projects. The Government of India allocated approximately INR 19,518 crores in metro projects during the Union budget 2023-2024.
Key Trends and Developments
Government investments in metro projects; increasing adoption of renewable energy; rapid infrastructural development; and expansion of smart devices are favouring the Indian cables and wires market
| Date | Company | Details |
| October 2023 | Vedanta Aluminium | Introduced cutting-edge wire rod products – namely, T4, AL59, and the 8xxx series – during the Cable & Wire Fair 2023. |
| May 2023 | Polycab India | Invested INR 700 crore in a new plant for setting up an extra high voltage (EHV) products facility in Halol, Gujarat. |
| December 2022 | Polycab India | Collaborated with Redington Ltd., a prominent supply-chain solutions provider, to enhance the distribution of its passive network products throughout India. |
| September 2022 | Ravicab Cables Pvt. Ltd | Completed the acquisition of Leoni Cable Solutions India Pvt. Ltd. (LCSI), a subsidiary of Germany's Leoni AG |
| Trends | Impact |
| Government investment in metro projects | The Indian government’s massive investment (19,518 crores) in budget FY23-24 is contributing to its expansion in tier-2 cities. Around 674.22 km are under construction, and 192.77 km have already been approved. |
| Increasing adoption of renewable energy | India’s aim is to achieve 500 GW of renewable energy by 2030, which fosters the installation of renewable energy sources such as solar and wind power. |
| Infrastructure development | Under the National Infrastructure Pipeline (NIP), an average of 0.5%-2% of the project expenditure is expected to be spent on wires and cables. |
| The growth of social media and the proliferation of smart devices | The Union Cabinet’s approval of the final phase of the last-mile optical fibre-based broadband connectivity plan for households in 6.4 lakh villages in August 2023, creates the market opportunities. |
| Increasing demand for branded products | Due to increased consumer awareness of safety and quality, influenced in part by the introduction of the GST regime India's wires and cables market is transitioning to branded products. |
Figure: Funds allocated for Tier-2 City Metro Projects
India Wires and Cables Market Trends
Large-scale developments in the power, telecom, and housing sectors, driven by urbanisation, commercialisation, and smart city projects, are stimulating the need for wires and cables. The rapid digital transformation, development of data centres and cloud computing further also propels the India wires and cables market growth. The use of fibre optic cables for ethernet applications is expanding as IT infrastructure attains higher levels of availability and security.
Furthermore, the Indian Government National Infrastructure Pipeline (NIP) provides a projected infrastructural investment of around INR 111 lakh crore in the Indian infrastructural sector over FY 2020-2025. Under the NIP, an average of 0.5%-2% of the project expenditure is expected to be spent on wires and cables, providing manufacturers with an annual opportunity of around INR 100-450 billion.
Market Segmentation
India Wires and Cables Market Report and Forecast 2024-2032 offers a detailed analysis of the market based on the following segments:
| Market Breakup | Categories |
| Voltage | Low Voltage, Medium Voltage, High Voltage |
| Product | Power Cables, Building Wires, Flexible Wires And Cables, EHV Cables, Control/Instrumentation Cables, Others |
| Material | Copper, Aluminium, Others |
| End Use | Construction, Telecommunications, Energy and Power, Automotive, Aerospace and Defence, Others |
| Region | North India, South India, East India, West India |
High voltage is expected to dominate the India wires and cables market share as these are suitable for underground or underwater power transmission
The rising urbanisation in India and the growth of metro cities propel the demand for extra-high-voltage cables (EHV) in India. These cables are especially ideal for underground installations as they omit the risks of power theft and require reduced maintenance. High-voltage cables are ideal for power transmission and distribution. India's National Grid capacity is expanding continuously under the PM Gati Shakti National Master Plan, which is expected to add around 26,988 circuit km capacity by 2024-2025 in line with growing electricity generation and demand.
Low voltage wires and cables also occupy a significant share of the market due to their wide applications in the residential, commercial, and industrial sectors of the country. Low voltage wires are extensively implemented in building wiring for power distribution throughout the infrastructure. Moreover, they are utilised in electrical appliances such as lighting, switchboards, fans, and sockets, among others. Low voltage cables are also deployed in LAN networks and telecommunication for the transmission of audio, video, and internet data.
The demand for building wires is significantly increasing as they play an essential role in the commercial, residential, and industrial sectors
Building wires hold a significant share of the India wires and cables market. Building wires are extensively deployed in commercial, industrial, and residential establishments. These are essential components of branch circuit wiring in homes and businesses that carry electrical current for powering appliances. Through the Union budget 2023-24, the finance ministry of India allocated over Rs 79,000 crore (USD 9.64 billion) towards the Pradhan Mantri Awas Yojana (PMAY)), representing a 66% increase compared to the previous year. PMAY, launched in 2015, aims to provide affordable housing to all citizens.
Copper is expected to dominate the India wires and cables market share in the coming years
By material, copper wires are anticipated to grow significantly due to their high electrical conductivity, ductility, and thermal resistance. Copper wire and cables work as great electrical conductors. Copper wires are commonly deployed in commercial and household electrical wiring. As a result, rising residential construction due to increased disposable income drives the demand for copper wires for powering TVs, computers, and kitchen appliances.
Although aluminium wires and cables are not as strong as their copper counterparts, they are lightweight and cost-effective. Such wires have a 1.5 times larger cross-section than copper wires, hence they are used in high-voltage power lines.
Competitive Landscape
Major players in the India wires and cables market are increasing their collaboration, partnership, and research and development activities to gain a competitive edge in the market
| Company Name | Year Founded | Headquarters | Products/Services |
| Polycab India Limited | 1968 | India | Manufacturer and seller of a varied range of wires and cables for retail and industrial use. |
| KEI Industries Limited | 1968 | India | Extra high voltage cables, high voltage cables, low voltage cables, ESP cables, control cables, house wire, single-core/multicore flexible cablesetc. |
| R R Kabel Ltd | 1999 | India | Household, fixed wiring cables, flat cables, bus cables, single-core flexible cables, flexible multicore cables, and battery cables,, etc. |
| Universal Cable Limited | 1962 | India | Low voltage, medium voltage, and extra high voltage XLPE power cables, as well as PVC and rubber insulated power cables under the brand UNISTAR |
Other key players in the India wires and cables market include Gloster Cables Limited, Finolex Cables Ltd., V-Guard Industries Ltd., and Havells India Ltd., among others.
Global India Wires and Cables Market Analysis by Region
North India is anticipated to hold a dominant position in the India wires and cables market in the forecast period. In March 2023, the International Telecommunications Union (ITU) inaugurated the ITU Area Office and Innovation Centre in Delhi to promote and develop new telecom technologies and expand the benefits of digitalisation to consumers. Additionally, the construction of a new interim terminal building for the upcoming international airport at Halwara, Punjab, further aids the growth of the market.
East India holds a growing market share and is driven by rapid installation of smart grids. For instance, in August 2023, the West Bengal State Electricity Distribution Company (WBSEDCL) announced the installation of 200,000 smart meters in selected urban geographies, including Asansol and Kharagpur by 2026-end.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Voltage |
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| Breakup by Product |
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| Breakup by Material |
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| Breakup by End Use |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
7 Opportunities and Challenges in the Market
8 India Power Generation and Consumption Outlook
9 India Wire and Cable Supply Outlook
9.1 Manufacturing Capacity of Wires and Cables for Some Key Market Players
9.2 Demand in CKM
9.3 Import and Export
9.4 Raw Material Price Overview
10 India Wires and Cables Market Overview
10.1 Key Industry Highlights
10.2 India Wires and Cables Historical Market (2018-2023)
10.3 India Wires and Cables Market Forecast (2024-2032)
11 India Wires and Cables Market by Voltage
11.1 Low Voltage
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Medium Voltage
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 High Voltage
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
12 India Wires and Cables Market by Product
12.1 Power Cables
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Building Wires
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Flexible Wires and Cables
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 EHV Cables
12.4.1 Historical Trend (2018-2023)
12.4.2 Forecast Trend (2024-2032)
12.5 Control/Instrumentation Cables
12.5.1 Historical Trend (2018-2023)
12.5.2 Forecast Trend (2024-2032)
12.6 Others
13 India Wires and Cables Market by Material
13.1 Copper
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 Aluminium
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Others
14 India Wires and Cables Market by End Use
14.1 Construction
14.1.1 Historical Trend (2018-2023)
14.1.2 Forecast Trend (2024-2032)
14.1.3 Market by Type
14.1.3.1 Residential
14.1.3.2 Commercial
14.2 Telecommunications
14.2.1 Historical Trend (2018-2023)
14.2.2 Forecast Trend (2024-2032)
14.3 Energy and Power
14.3.1 Historical Trend (2018-2023)
14.3.2 Forecast Trend (2024-2032)
14.4 Automotive
14.4.1 Historical Trend (2018-2023)
14.4.2 Forecast Trend (2024-2032)
14.5 Aerospace and Defence
14.5.1 Historical Trend (2018-2023)
14.5.2 Forecast Trend (2024-2032)
14.6 Others
15 India Wires and Cables Market by Region
15.1 North India
15.1.1 Historical Trend (2018-2023)
15.1.2 Forecast Trend (2024-2032)
15.1.3 Market by Leading States
15.1.3.1 Haryana
15.1.3.2 Punjab
15.1.3.3 Uttar Pradesh
15.1.3.4 Delhi
15.1.3.5 Others
15.2 South India
15.2.1 Historical Trend (2018-2023)
15.2.2 Forecast Trend (2024-2032)
15.2.3 Market by Leading States
15.2.3.1 Tamil Nadu
15.2.3.2 Karnataka
15.2.3.3 Telangana
15.2.3.4 Andhra Pradesh
15.2.3.5 Others
15.3 East India
15.3.1 Historical Trend (2018-2023)
15.3.2 Forecast Trend (2024-2032)
15.3.3 Market by Leading States
15.3.3.1 Chhattisgarh
15.3.3.2 Odisha
15.3.3.3 Sikkim
15.3.3.4 West Bengal
15.3.3.5 Others
15.4 West India
15.4.1 Historical Trend (2018-2023)
15.4.2 Forecast Trend (2024-2032)
15.4.3 Market by Leading States
15.4.3.1 Goa
15.4.3.2 Gujarat
15.4.3.3 Maharashtra
15.4.3.4 Others
16 Market Dynamics
16.1 SWOT Analysis
16.1.1 Strengths
16.1.2 Weaknesses
16.1.3 Opportunities
16.1.4 Threats
16.2 Porter’s Five Forces Analysis
16.2.1 Supplier’s Power
16.2.2 Buyer’s Power
16.2.3 Threat of New Entrants
16.2.4 Degree of Rivalry
16.2.5 Threat of Substitutes
16.3 Key Indicators for Demand
16.4 Key Indicators for Price
17 Competitive Landscape
17.1 Market Structure
17.2 Market Share of Leading Players
17.3 Company Profiles
17.3.1 Polycab India Limited
17.3.1.1 Company Overview
17.3.1.2 Product Portfolio
17.3.1.3 Demographic Reach and Achievements
17.3.1.4 Certifications
17.3.2 KEI Industries Limited
17.3.2.1 Company Overview
17.3.2.2 Product Portfolio
17.3.2.3 Demographic Reach and Achievements
17.3.2.4 Certifications
17.3.3 R R Kabel Ltd.
17.3.3.1 Company Overview
17.3.3.2 Product Portfolio
17.3.3.3 Demographic Reach and Achievements
17.3.3.4 Certifications
17.3.4 Universal Cable Limited
17.3.4.1 Company Overview
17.3.4.2 Product Portfolio
17.3.4.3 Demographic Reach and Achievements
17.3.4.4 Certifications
17.3.5 Gloster Cables Limited
17.3.5.1 Company Overview
17.3.5.2 Product Portfolio
17.3.5.3 Demographic Reach and Achievements
17.3.5.4 Certifications
17.3.6 Finolex Cables Ltd.
17.3.6.1 Company Overview
17.3.6.2 Product Portfolio
17.3.6.3 Demographic Reach and Achievements
17.3.6.4 Certifications
17.3.7 V-Guard Industries Ltd
17.3.7.1 Company Overview
17.3.7.2 Product Portfolio
17.3.7.3 Demographic Reach and Achievements
17.3.7.4 Certifications
17.3.8 Havells India Ltd.
17.3.8.1 Company Overview
17.3.8.2 Product Portfolio
17.3.8.3 Demographic Reach and Achievements
17.3.8.4 Certifications
17.3.9 Others
18 Key Trends and Developments in the Market
List of Key Figures and Tables
1. India Wires and Cables Market: Key Industry Highlights, 2018 and 2032
2. India Wires and Cables Historical Market: Breakup by Voltage (INR Billion), 2018-2023
3. India Wires and Cables Market Forecast: Breakup by Voltage (INR Billion), 2024-2032
4. India Wires and Cables Historical Market: Breakup by Product (INR Billion), 2018-2023
5. India Wires and Cables Market Forecast: Breakup by Product (INR Billion), 2024-2032
6. India Wires and Cables Historical Market: Breakup by Material (INR Billion), 2018-2023
7. India Wires and Cables Market Forecast: Breakup by Material (INR Billion), 2024-2032
8. India Wires and Cables Historical Market: Breakup by End Use (INR Billion), 2018-2023
9. India Wires and Cables Market Forecast: Breakup by End Use (INR Billion), 2024-2032
10. India Wires and Cables Historical Market: Breakup by Region (INR Billion), 2018-2023
11. India Wires and Cables Market Forecast: Breakup by Region (INR Billion), 2024-2032
12. India Wires and Cables Market Structure
Key Questions Answered in the Report
In 2023, the market value was INR 1,083.71 billion.
The market is expected to grow at a CAGR of 14.5% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach INR 3,655.81 billion by 2032.
The major market drivers include rising government investment in Tier 2 city metro projects, expansion of IT and telecommunication centre, and rapid infrastructure development.
The key trends include increasing adoption of renewable energy, growth of social media and the proliferation of smart devices, rapid digital transformation, and the development of data centres and cloud computing.
The different segments based on voltage of wires and cables include low voltage, medium voltage, and high voltage.
Major end uses of wires and cables include construction, telecommunications, energy and power, automotive, and aerospace and defence, among others.
The major players in the market include Polycab India Limited, KEI Industries Limited, R R Kabel Ltd, Universal Cable Limited, Gloster Cables Limited, Finolex Cables Ltd., V-Guard Industries Ltd., and Havells India Ltd., among others.
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